3. ECONOMIC INDICATORS Flashcards
(5 cards)
1
Q
What are economic indicators?
A
Data used to establish which phase an economy is in at a specific time.
2
Q
Give an example of an economic indicator.
A
GDP
GDP stands for Gross Domestic Product and measures the economic performance of a country.
3
Q
What do employment statistics indicate?
A
The size of the active population.
4
Q
What does the balance of payments represent?
A
The difference between the value of a country’s imports and exports.
5
Q
List other examples of economic indicators.
A
- The number of new cars
- Consumer price index
- Inflation rate
